Register now on a webinar explaining the world Smart Homes market on Wednesday February 26, 2014 at 9am EST. / 2pm GMT / 3pm CET. Presenter: Zoltan Karpathy, Senior Manager Intelligent Buildings and Homes BSRIA
Driven by a regaining momentum in the housing market, innovations, better affordability, and overall increasing end-user awareness the North American Connected and Smart Homes market accounted for around US$0.7 billion in 2012, and strong average yearly growth of over 8% is predicted over the forecast period to 2015. Consumer electronics and lighting are the main applications integrated into Connected and Smart Homes (Fig.1.). By 2014 market revenues are expected to surpass pre-crisis levels of 2008. Despite growth, the penetration rate of smart home installations remains low hinting at significant long term opportunities in this market.
The European Connected and Smart Home product market grew by almost 19% in the period 2010-2012 to reach just over €0.5 billion and is estimated to grow by 8% on average each year until 2015. The current Connected and Smart home market still remains a niche high-end market in Europe, although penetration in light commercial applications has been growing since 2010. Residential consumer awareness has been increasing across Europe, not least due to the widening popularity of smart phones/tablets and their role as user interfaces (via apps) in smart home solutions. Nevertheless, in these austere times in Europe the high cost of the smart home solution in most cases prevents these solutions from reaching the mass market.
While custom installations for the luxury segments will continue to account for the largest revenue opportunities globally for smart homes (Fig.2.), the highest growth is in the mid- and low range products. This means also the market becomes more spread geographically and less focused on the affluent areas.
New global report now available by BSRIA
BSRIA has recently published its new and fully updated study of the Global Connected & Smart Home markets. These new reports have been compiled through findings from 150 interviews with key industry contacts throughout Europe and North America. The report focuses on the Connected & Smart Home evolution and the uptake of HEMS and Intelligent Environmental Controls. The result is a unique and independent publication and an essential tool for any marketing professional in search of information about Connected & Smart Homes.
A webinar has been scheduled Wednesday February 26, 2014 at 9am EST. / 2pm GMT / 3pm CET Presenter: Zoltan Karpathy, Senior Manager Intelligent Buildings and Homes BSRIA Register now.
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